What's In YOUR Payment?

10/10/17 • 21 min

We’ve all heard the word “mortgage,” but what’s really included in all of that? Why do homeowners find themselves surprised when their monthly bill ends up being way more than they bargained for?

In Episode #2 of the Mortgage Secrets podcast, John Downs of Downs Capital breaks it all down for you, sharing nuggets from his 17 years of experience in the mortgage industry to keep you awake and aware throughout your home buying process. Before you find yourself completely blindsided with an inflated bill, find out everything that goes into your monthly house payment.

John explains in this episode what the heck amortization is, who might not want an escrow account, why online mortgage calculators are usually misleading, and other factors that might cause your monthly house payment to fluctuate. Be aware, know what your fees look like, and you’ll never be surprised!

Previous Episode

Six Mortgage Myths

Think you can't get a mortgage? Blow up the top six mortgage myths (from not having enough of a down payment to why your credit score is probably just fine the way it is) and learn why virtually everyone can get a mortgage to start building wealth right now.

Next Episode

How Much To Put Down On A New Home

One of the biggest conversations you will have about buying a home is around how much money you should or shouldn’t put down on your home loan. Putting a chunk of money down on a mortgage is a pretty impactful decision, of course. Once you sign the dotted line and hand over the check, the money you put down is no longer easy to access.

If you’re thinking about buying a house, this episode of Mortgage Secrets will clear up some of that confusion. “Limiting factors” may seem a daunting phrase, but the secret to finding what works for you is exploring where you are financially and what options you have available. Sharing his knowledge from 17 years of experience in the mortgage industry, John Downs of Downs Capital explains how you can figure out how much you should put down and where your money should come from.